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Our everyday finances are made up of receipts. We dine out, we withdraw and deposit money, we buy small and large items, or we simply send or receive money for something else.
Most of this information is important, but some can just go directly into the garbage. Some receipts need to be kept for a relatively brief period of time, but some are important and need to be kept for a long time and become part of your historical data.
Any receipt that has something to do with the cash flow of a business might be important. However, keeping all the paper receipts is not practical. After a certain amount of time, they become unreadable or get misplaced.
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